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American Electric Power Will Use Batteries to Store Wind Power

By Matthew L. Wald WASHINGTON – American Electric Power, a coal-burning utility company that is looking for ways to connect more wind power to its grid, plans to announce on Tuesday that it will install huge banks of high-technology batteries. The batteries are costly and their use at such a big scale has not been demonstrated, but they may be an essential complement to renewable power, experts say. “We’re looking at what we believe the grid of the future is going to be,” said Carl L. English, president of A.E.P. “We’re going to need a significant amount of storage if for no other reason than to take greatest advantage of alternative energy sources like wind power.” The investment would position the company well if any of the 11 states in its service territory establish a minimum quota for renewable energy, or if Congress sets a national standard, company executives said; it would also help if carbon controls were instituted and wind power were to gain a financial advantage over coal. An expert not involved in the program, Edgar DeMeo of Renewable Energy Consulting Services, said, “They must think there’s enough potential there so they want get a better handle on […]

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For Buyers, Carbon Labels Tap into Worry on Warming

URL: http://www.boston.com/business/globe/articles/2007/09/11/for_buyers_carbon_labels_tap_into_worry_on_warming/ Website: http://www.boston.com/business/globe/articles/2007/09/11/for_buyers_carbon_labels_tap_into_worry_on_warming/     

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Expansion Capital Closes $100M Cleantech Fund

Expansion Capital Partners, LLC, has announced the final closing for the firm’s Clean Technology Fund II, LP with more than $100,000,000. Founded in early 2002, Expansion Capital was the first fund focused exclusively on expansion-stage, CleanTech equity investments. Clean Technology Fund II is backed by the founding families of a dozen Fortune 1000 companies, numerous family foundations, several corporate strategic investors and leading financial institutions. Mark Donohue, the firm’s founder stated: “We are gratified by the investor confidence in our management team. This fundraising success reflects our strong portfolio of seven announced investments by Fund II. This capital will allow us to partner with more CleanTech entrepreneurs, as we work to grow companies into respected industry leaders, while creating real, sustainable value for shareholders and our planet.” Expansion Capital’s management team includes General Partners Bernardo Llovera, formerly of GE Equity, and Diana Propper de Callejon, a co-founder of EA Capital, and Mark Donohue. The firm’s Principals include Kjartan Jansen and Alex Sloan. The team features 75 years of private equity, CleanTech, investment management and entrepreneurial operating experience, combined with proven track records as successful venture capital and technology investors. Bernardo Llovera, General Partner, stated: “The confidence of our investors has […]

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Endicott Biofuels Completes $40M Financing

Endicott Biofuels, LLC (EBF) has closed a $40 million private equity financing for the construction of a “second generation technology” biodiesel and bio-derived products plant that will feature a high level of feedstock flexibility. The full equity financing commitment, provided by Haddington Energy Partners III LP, will allow EBF to proceed quickly through the construction and commercial operation of this first plant. EBF plans to build additional bio-fuel and bio-derived product facilities throughout the U.S. within the next two to five years. It expects to break ground in 2008 on its first plant and intends to wholesale the fuel to the developing bio-fuel brokerage market. EBF is also looking to develop relationships with potential feedstock suppliers and fuel purchasers, such as large diesel fuel consumers or large oil companies. Biodiesel can be used at 100 percent concentration as a petroleum diesel substitute, or in concentrations as low as 2 percent as a diesel fuel additive to reduce sulfur emissions and improve engine lubrication. Biodiesel is significantly cleaner than petroleum diesel and is made from a variety of organic materials such as vegetable oils, animal fats and other renewable agricultural products and waste products. Biodiesel and other bio-derived fuels such as […]

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JA Solar Secures a New Long-Term Wafer Supply

JA Solar Holdings Co., Ltd. has entered a long-term wafer supply agreement with JiangSu Shunda Semiconductor Develop Co., Ltd, and has revised the prepayment terms of its wafer supply contract with JingLong Group. Under the terms of the Shunda agreement, Shunda will supply JA Solar with silicon wafers starting immediately. The monthly supply will increase through the duration of the 41-month contract. Total deliveries under the agreement can reach about 1.2GW. JA Solar will make a total prepayment of RMB 350 million (approximately US$46.4 million in three installments) for future deliveries. Shunda is a wholly owned subsidiary of JiangSu Shunda Group Corporation located in Yangzhou, Jiangsu Province. JiangSu Shunda Group is a leading high-technology enterprise focusing on the PV market. The company’s rapid expansion in recent years has enabled it to produce polysilicon, mono-crystalline ingots, and wafers. Separately, in line with industry standards JA Solar has revised the monthly prepayment terms under its existing contract with JingLong Group. According to the revised contract, JA Solar made the full prepayment to JingLong Group of RMB 300 million (approximately US$39.8 Million) on August 31, 2007. JingLong Group will apply the prepayment against shipments to JA Solar on a ratio of RMB 10 […]

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